Founding of Victoria Secret
Victoria Secret was founded by Roy Raymond and his wife Gaye Raymond in San Francisco. The first store opened in 1977 as a response to the discomfort men felt buying lingerie for women in traditional department stores. Roy Raymond, a Stanford Business School graduate, created the brand to offer a luxury, comfortable shopping experience for men purchasing intimate apparel for their partners. The concept quickly expanded, and the company grew into a dominant lingerie retailer across the United States. The brand became synonymous with high-end intimate apparel and the famous Victoria Secret Fashion Show, which ran for decades. The original vision focused on bridging the gap between men's shopping anxiety and women's desire for elegant undergarments. The brand's early history is well documented by Forbes.
Ownership and Corporate Structure
Victoria Secret is currently owned by L Brands, formerly known as Limited Brands, which is a publicly traded company listed on the New York Stock Exchange under the ticker symbol LB. L Brands was founded by Les Wexner, who acquired the Victoria Secret brand in 1982 and transformed it into a global retail powerhouse. The company's headquarters are located in Columbus, Ohio. L Brands also owns the Bath & Body Works brand, and the two operate as separate divisions within the parent company. The corporate structure has evolved significantly over the decades, with multiple ownership changes and strategic shifts. The brand's ownership history is a key part of modern retail and fashion industry analysis. L Brands' financial filings are available on the SEC website.
Key Figures and Leadership
Roy Raymond
Roy Raymond, the co-founder of Victoria Secret, established the brand in 1977 with the goal of creating a dignified shopping environment for men. He opened the first store in Stanford Shopping Center, California. Raymond sold the company to Les Wexner and Limited Brands in 1982, just five years after its founding. His original concept of a dedicated lingerie store for men was revolutionary at the time. Raymond passed away in 2003, but his foundational role in creating the brand remains a central part of its history. His vision directly influenced the initial store design and marketing approach. Roy Raymond's biography is available on Britannica.
Les Wexner
Les Wexner is the billionaire businessman who acquired Victoria Secret in 1982 and built it into a global brand. He is the founder and chairman emeritus of L Brands and was the primary architect of the Victoria Secret retail empire. Under his leadership, the brand expanded to hundreds of stores worldwide and launched the iconic Victoria Secret Fashion Show. Wexner's strategic focus on branding, marketing, and exclusive partnerships defined the company's growth trajectory for decades. His influence on the brand's identity and commercial success is extensively covered in business and retail analysis. Forbes provides detailed coverage of Wexner's impact on the brand.